Karl Denninger is nothing more than a former propagandist for a racist tea party group who is now trying to re-invent himself as some type of finance guru. Like his tea party compadres who believe through the power of their imagination, they are experts on gun control, health care, taxes and government, Denninger believes himself to be Max Keiser.

His comments about the Wells Fargo/ML-Implode situation indicate he knows nothing about banking. A business can only get merchant accounts through the major banks. The small community banks he believes everyone should rush to don't offer them.

_________________"Since the general civilization of mankind, I believe there are more instances of the abridgement of the freedom of the people by gradual and silent encroachments of those in power than by violent and sudden usurpations." - James Madison - 1788

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